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TECHS: Dovish BoC The BoC left........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Dovish BoC
The BoC left rates on hold at 1.75% as expected, but did note in the
accompanying statement increased uncertainty about the timing of future rate
increases. USDCAD spiked through 1.34 to extended react highs above 1.3450. This
brings the Jan 4 at 1.3496 back into view, ahead of the 76.4% retracement level
at 1.3524. While the inverse head and shoulders target comes in around 1.36.
Bears need a close below the 50-dma and 100-dma at 1.3289/76 to reignite
downside momentum and put the focus back on the 1.32 area & 200-dma at 1.3170.

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